Juniper Hotels IPO, running hotels under the 'Hyatt' brand, received an 11% subscription on the first day. Retail investors subscribed 52%, while non-institutional investors subscribed 6%.
Photograph: Kham/Reuters
New Delhi, Feb 21 (PTI) The initial share sale of Juniper Hotels, which runs hotels under the 'Hyatt' brand, received an 11 per cent subscription on the first day of offer on Wednesday.
The category for Retail Individual Investors (RIIs) got subscribed 52 per cent while the quota for non-institutional investors received 6 per cent subscription, as per NSE data.
On Tuesday, Juniper Hotels said it has garnered Rs 810 crore from anchor investors.
The Initial Public Offering (IPO) is entirely a fresh issue of equity shares worth Rs 1,800 crore and the price band is Rs 342-360 apiece.
Funds to the tune of Rs 1,500 crore will be utilised for repayment of debt availed by the company and subsidiaries -- Chartered Hotels Pvt Ltd and Chartered Hampi Hotels Pvt Ltd.
Besides, a portion of the proceeds will be used for general corporate purposes.
The hospitality firm had a portfolio of seven hotels and serviced apartments and operated 1,836 keys across the luxury, upper upscale, and upscale category of hotels across India as of September 2023.
Currently, Saraf Hotels owns a 44.68 per cent stake in Juniper Hotels, Two Seas Holdings holds a 50 per cent stake and the remaining 5.32 per cent shareholding is with Juniper Investments.
The equity shares of the company will be listed on the BSE and NSE.
JM Financial, CLSA India and ICICI Securities Ltd are the book-running lead managers to the issue.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
© 2024 Rediff.com India Limited. All rights reserved. Disclaimer - Terms of Service - Privacy Policy - Feedback